PayPal Formed A Crypto And Blockchain Advisory Council.

PayPal, the world’s largest payment processor, has established a team of industry professionals to serve as consultants on crypto, blockchain, and digital currencies.

PayPal stated in an announcement that appointing six members to its Blockchain, Crypto, and Digital Currencies Advisory Board will assist support its existing and future products, as well as the company’s objective of establishing a more inclusive digital financial ecosystem.

Peter Briger, co-CEO of Fortress Investment Group; Chris Brummer, Georgetown University Law Center professor; Shafi Goldwasser, Weizmann Institute of Science professor; Timothy Massad, former chairman of the Commodity Futures Trading Commission; Antoinette Schoar, MIT Sloan School of Management professor of finance and director of the MIT Digital Currency Initiative Neha Narula will be a part of the PayPal effort.

PayPal’s senior vice president and general manager for Blockchain, Crypto, and Digital Currencies Jose Fernandez da Ponte said:

“We believe it’s crucial to engage with top global leaders to better understand the most exciting opportunities and complex challenges in the industry,”

From a financial or regulatory standpoint, all six advisors have years of expertise in the crypto and blockchain sector. Briger is said to have advised Softbank Group founder Masayoshi Son to invest millions in Bitcoin (BTC) before to the 2017 bull run. Goldwasser was one of a group of MIT researchers that devised the proof of knowledge zero as an encryption strategy long before cryptography was invented.

During her time at the MIT Digital Money Initiative, Narula was in charge of a project to aid the Federal Reserve Bank of Boston in developing a digital currency appropriate for consumer usage. Before President Joe Biden formally selected Rostin Behnam, Brummer was apparently a CFTC presidential contender. Massad, who was chairman of the CFTC from 2014 to 2017, suggested after departing that regulators should allow an exchange-traded fund with exposure to bitcoin.

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Patrick

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